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Italy Publishes Implementing Decree on Increased Deduction for Newly Hired Personnel

12 July 2024

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Approved Changes

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Italy

Italy published the Decree of 25 June 2024 from the Ministry of Economy and Finance in the Official Gazette on 3 July 2024. The decree provides for the implementation of the increased deduction for the cost of newly hired personnel with permanent employment contracts as introduced by Legislative Decree No. 216 of 30 December 2023. This includes an additional 20% deduction (120% total) for the cost of new permanent hires in the 2024 fiscal year if, at the end of the period, the number of permanent employees and total employees exceeds the average number of permanent employees and total employees...